General bond b1
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 August 2012
what is the procedure after executed General bond B1, for procurement of excisable goods for manufacture of export means what are the documents we should keep when purchasing items ,the procedure
U S Sharma
(Expert)
30 August 2012
you have to submit CT-1, ARE1 to the party, and get the goods delivered under excise seal to you without duty,
5th copy of the ARE-1 after customs cleararance stay with yourself, ( for any incentive or drawback claim)
balance you have to submit the original and duplicate of ARE-1 to B-1 Bond authority for discharge of bond, and get it recredited, once the credit advise is issued, your part is over, keep that document in file , coz department will not ask you to remit the duty, ( from excise point of view)
5th copy of the ARE-1 after customs cleararance stay with yourself, ( for any incentive or drawback claim)
balance you have to submit the original and duplicate of ARE-1 to B-1 Bond authority for discharge of bond, and get it recredited, once the credit advise is issued, your part is over, keep that document in file , coz department will not ask you to remit the duty, ( from excise point of view)
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